March 26, 2010
EARNINGS Oracle's profit falls, sales rise Oracle Corp. reported third-quarter profit that met analysts' estimates after customers bought programs they had delayed buying during the recession. Profit before acquisition and some other costs was 38 cents a share, matching analyst estimates in a Bloomberg survey. Including deferred revenue from Sun Microsystems Inc., which Oracle acquired in January, sales were $6.47 billion. Analysts estimated $6.32 billion. Net income fell to $1.19 billion, or 23 cents a share, from $1.33 billion, or 26 cents, a year earlier.
February 16, 2010 |
The euro declined on world markets Monday, nearing a nine-month low against the dollar, on a revival of worries about debt woes in Greece and Dubai. But stocks in Europe and emerging markets gained. U.S. markets were closed for Presidents Day, and exchanges in China, Taiwan, Hong Kong, Singapore and Malaysia were shut for the Lunar New Year holiday. Brazil's market was closed for Carnival festivities. Metal prices rose after Goldman Sachs said China's growth was fast enough that the government might let the yuan strengthen as much as 5% to curb inflation.
January 3, 2010 |
The year is a fresh slate before you, so it's time to start filling in those blanks. Here are five ideas for places to be or places to see that will turn your 2010 into a year to remember. And if you have something you think should be on readers' radars, write to us at email@example.com. Oberammergau Passion Play, Germany It happens only once every 10 years and has been going on since 1634. The people of Oberammergau in the Bavarian Alps, fearing that bubonic plague would sweep the village, promised they would reenact the Passion every decade if God spared them.
December 15, 2009 |
Abu Dhabi rescued debt-ridden Dubai on Monday with a $10-billion bailout package that lifted world financial markets but left unclear how the glittering emirate by the sea would recover from investors' jitters and a troubled real estate market. The plan provides $4.1 billion to repay a bond that matured Monday for developer Nakheel, which is controlled by state-owned Dubai World. The intervention by oil-rich Abu Dhabi, the most influential state in the United Arab Emirates, was an attempt to save its fellow emirate and to prevent a prolonged financial crisis from rippling across the region.
December 1, 2009 |
In their first full day of trading after the disclosure of Dubai's debt trouble, U.S. financial markets appeared to conclude Monday that the crisis wouldn't derail the budding global economic recovery. The Dow Jones industrial average fluctuated sharply during the day, and at one point was down almost 50 points, before finishing with a moderate gain of almost 35 points. U.S. bank stocks surged, reflecting growing confidence that banks in this country don't have hidden time bombs related to the Persian Gulf emirate.
December 1, 2009 |
The flashy spendthrift needs his prim, conservative neighbor to bail him out. Such is the situation between debt-ridden Dubai and flush Abu Dhabi, two Persian Gulf emirates with starkly different financial strategies and temperaments that may grudgingly need each other to prevent long-term investor panic from spreading beyond the United Arab Emirates. Dubai's $80-billion debt, nearly $60 billion of it held by the investment conglomerate Dubai World, is testament to the emirate's overextended reliance on a real estate market whose fortunes tumbled in the global downturn.